As the world held its breath on Tuesday night, news of a ceasefire and the potential reopening of the Strait of Hormuz brought a collective sigh of relief. But with shipments stalled in the strait for over a month, the disruption to global shipping will not resolve immediately.
“Traffic through Hormuz dropped by about 95 percent [during this conflict]. As a result, prices surged, and not just for crude oil but also for refined products like jet fuel, diesel, and gas oil,” says Carsten Ladekjær, CEO…

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